actual cash value

actual cash value
actual cash value n
1: the cost of replacing or repairing damaged property less any applicable depreciation

Merriam-Webster’s Dictionary of Law. . 1996.

actual cash value
n. A fair or reasonable price that can be obtained for an item or property in the ordinary course of business, not under duress or exigency. Synonymous with fair market value.

Webster's New World Law Dictionary. . 2000.


actual cash value
The fair or reasonable cash price for which a property could be sold in the market in the ordinary course of business, and not at forced sale. The price it will bring in a fair market after reasonable efforts to find a purchaser who will give the highest price. What property is worth in money, allowing for depreciation. Ordinarily, actual cash value, fair market value, and market value are synonymous terms.

Dictionary from West's Encyclopedia of American Law. 2005.


actual cash value
The fair or reasonable cash price for which a property could be sold in the market in the ordinary course of business, and not at forced sale. The price it will bring in a fair market after reasonable efforts to find a purchaser who will give the highest price. What property is worth in money, allowing for depreciation. Ordinarily, actual cash value, fair market value, and market value are synonymous terms.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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